This week, the House is expected to debate and vote on the 2015 Defense Appropriations Act. On May 7, the House Armed Services Committee unanimously approved $496 billion in discretionary spending and $79.4 billion in war operations spending for the budget that starts Oct. 1. We explore how this stacks up against the rest of the world, who benefits most from defense spending, and what these funding levels mean for other national priorities.
Reforming America's Taxes Equitably, or RATE Coalition, is a corporate lobby group made up of 29 major corporations and two trade associations. Formed last year, the RATE Coalition has been increasingly active in pressing Congress to cut corporate income tax rates from current levels. But a number of the companies involved in the coalition benefit from the very revenue stream they're seeking to shrink.
Last month, House Ways and Means Chairman David Camp (R-MI) released his long awaited tax reform package. In it, he proposed overhauling the corporate tax code, eliminating many deductions and loopholes.
For the last 30 years, various political leaders have launched efforts to "Reinvent Government." Done in the name of making government more efficient, these initiatives have most often centered on reducing the size of the government workforce, by handing over to the for-profit sector services that have long been provided by government employees. The goal was to save money, but all too often, unintended consequences have included a troubling lack of accountability and deteriorating public services.
December was a tough month for those down on their luck. More than a million long-term unemployed workers, having already been out of work for at least six months, saw their unemployment insurance abruptly cut off. Just weeks before this happened, federal food assistance for children, seniors, and people with disabilities was reduced. Job growth was anemic, and the unemployment rate fell because many people simply stopped looking for work (and so moved from "unemployed" to "out of the labor market").
2013 opened with the economy poised on the edge of "the fiscal cliff," and on that cliff was a sign reading, "Manufactured in Washington D.C." How did we start the year on a ledge, land in a shutdown in October, and scramble to a mini-deal in December? Since it all goes back to the Budget Control Act passed in August of 2011, a short recap may be in order.
Just after midnight on Oct. 17, President Obama signed legislation that avoided a dangerous default and reopened the government after the third-longest government shutdown in history. Under the terms of the deal, the government was funded through Jan. 15, 2014, and the debt limit was extended until Feb. 7, 2014.